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Bullishmacddivergence

EURJPY: BULLISH HARMONIC BAT AND ABCD PATTERNS ON DAILY !!!Hello Traders, After getting stopped out on the previous long trade based on the bullish crab and ABCD measured move, we just got a completion of another two bullish patterns on the daily chart in FX:EURJPY . First of all we have the harmonic bullish bat pattern which recently got completed right at 88.6% and 127.2% Fib ratio confluence zone. By using Fib extensions on previous harmonic moves, I was able to get a PRZ (potential reversal zone) . This PRZ is located at 2015's lows, thus the stop has to be placed far enough to account for deeper movement of price action towards these lows, as well as accounting for the average true range (ATR) of this pair on the daily chart, which is roughly around 100 pips. Thus our stop placement level is 110 pips away from the 2015 lows. Next we have the bullish harmonic ABCD pattern completing right close to the 127.2% Fib extension level. This pattern is also about to be completed within the PRZ, marked on the chart above. This stops loss and target levels will remain the same for both of the bullish harmonic patterns. Do note the MACD bullish divergence , which adds into our overall bullish view on this pair. Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :) Follow me on Twitter-0.04% as well: moneymaking2016
Long
by moneymaking
EURJPY: AB=CD HARMONIC MOVE + BULLISH CRAB PATTERN ON 4 HR !!!Hello Traders, After being involved in a nice shorting opportunity on FX:EURJPY , there are key signs of bullish reversal emerging on the 4 hour chart. The first sign is the harmonic AB=CD move completing right at the potential reversal zone (PRZ) , with several Fibonacci extension and retracement levels (Fibonacci Cluster Zone). Next sign of bullish reversal is the completion of bullish crab pattern at 161.8% Fib extension level, which is located within the PRZ. I usually place my stops several pips below the PRZ but since this zone is right at previous structure support (looking left) , we should consider putting our stops below that support level. The first target at 38.2% level is located right at structure level, so we should definitely consider taking some profit off at that level. It’s totally up to you guys on how you want to enter into this trade setup, either via AB=CD pattern or the bullish crab pattern. The stop loss and the targets will remain the same for both patterns, regardless of which one you choose to trade. I would personally be more interested in trading the bullish crab pattern since it has the lowest risk involved. We are also noticing bullish divergence on the MACD , which adds into our list of reasons for going long on this pair. Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :) Follow me on Twitter-0.04% as well: moneymaking2016
Long
by moneymaking